New Zealand

A New Innovation Model for New Zealand

IdealityRoads creates tailor-made programs that drive a local high-tech ecosystem, based on each client’s needs and circumstances. Whether working with the private or the public sector, the company examines the specific challenges faced within the relevant country’s high-tech ecosystem and customizes a plan that suits local economic, cultural, legal and regulatory factors. This attention to detail, along with specific insights gathered from Israel’s rise to becoming a leader in high tech, sets IdealityRoads’ apart.

These case studies illustrate how IdealityRoads’ hands-on approach drives tangible, transformative results.

A New Innovation Model for New Zealand

An advisory visit to New Zealand at the invitation of the local government was the beginning of a long-term relationship that has yielded impressive results.

In 2013, the government of New Zealand contacted IdealityRoads, asking the company to come and meet local parties who were interested to learn how Israel had established a high-tech industry so successful that is considered to be second in the world only to Silicon Valley in terms of its quality and size. In the course of the week-long visit, company representatives met ministers, universities, venture capital funds, economic forums, technology hubs, local entrepreneurs and investors, government offices - including the Ministry of Science and Innovation and the Ministry of Finance - and more.

Laying the groundwork

The brief was to advise New Zealand on how to replicate Israel’s success, while making the proper adjustments for cultural, regulatory, legal and other locally-relevant elements. To ensure a solid foundation to the new ecosystem, IdealityRoads devoted the first year of operations in New Zealand to developing the knowledge and management capabilities the government needed for a successful public-private partnership.

Comprehensive service

Working both remotely and locally, IdealityRoads covered all aspects of designing and maintaining government involvement in a thriving high-tech ecosystem. For a full year, the company mentored its partners in the New Zealand government in areas including: effective management processes; unique methodology for managing the National Dynamic Tender (NDT) for the technology incubator; corporate governance structures; government incentives; and day-to-day incubator management.

As part of its broader engagement with the new innovation policy, IdealityRoads also advised on New Zealand’s Regional Research Institute (RRI) – an initiative created to establish innovation hubs in peripheral regions of the country, linking academia to industry to directly stimulate cutting-edge, commercially-focused, industrially-usable research.

Technology incubator launch

As an initial step towards a comprehensive high-tech ecosystem, IdealityRoads worked with the government to launch a technology incubator program. Maintaining constant contact with incubator management and stakeholders, the company was able to speed up relevant learning process, adjusting the program as needed to reflect feedback from incubator management, entrepreneurs and government officials.

Commercial success

Within four years of operation, New Zealand’s technology incubators had already made a significant contribution to the country’s technology ecosystem, yielding three fully-operational incubators with over 35 seed investments, growing into commercially successful startups, driving the local economy.